Chettinad Cements, Axis Chemicals, RPG Properties, Intex and Sanjeev Goenka were the five bidders participating in the process.
Goenka bagged the rights to the Pune based franchise with a negative bid of Rs. 16 crore. Intex will own the second team, based out of Rajkot, afterit’s bid of Rs. -10 crore was found to be the second lowest of the day.Incidentally, Intex had put in two more bids, worth Rs. 10 crore each, for having its base in Kanpur and Vizag.
The other failed attempts included Chettinad’s bid of Rs. 27 crore for Pune, RPG’s three bids of Rs 27 crore for Chennai, Rs. 20.88 crore for Rajkot and Rs. 17.88 crore for Pune, and Axis Chemical’s Rs. 15 crore bid each for Nagpur and Kanpur and Rs. 10 crore bid for Pune.
So the word is, Pune and Rajkot will be the bases for the two new IPL franchises in 2016 and the year after. While Sanjiv Goenka group has bagged the Pune team, Intex won the Rajkot one.
In an aggressive bidding process, the Sanjeev Gupta-led ‘New Rising’ consortium bid -16 crore INR for the Pune franchise while Keshav Bansal’s Intex Mobiles picked up the Rajkot side for a value of -10 crore. BCCI had set a base price of 40 crore for the reverse bidding exercise with prospective buyers bidding for a share of the board’s central revenue pool
Niranjan Shah, honorary secretary of Saurashtra Cricket Association, says, “Very happy that Rajkot will be a centre. It is a 100% profitable venture. We had good revenue from the ODI played here.”
“Intex as a brand has been associated with cricket for a very long time,” owner Keshav Bansal said after making the winning bid. “It was exciting process. We were the most aggressive bidders. We are pucca Hindustani (true Indians). Well give importance to Indian players first.”